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Phenix Corporation reports following information regarding its sales and cost of sales. Draw the estimated line of cost behavior by using the scatter diagram, and evaluate fixed costs and variable costs per unit sold. Then use the high-low method to estimate the fixed and variable components of the cost of sales.
Period Units Sold Cost of Sales Period Units Sold Cost of Sales1 0 $2,500 6 2,000 5,5002 400 3,100 7 2,400 6,1003 800 3,700 8 2,800 6,7004 1,200 4,300 9 3,200 7,3005 1,600 4,900 10 3,600 7,900
Some firms have a lot of fixed costs and a few variable costs, while other firms are configured the other way around. What effect do you think the existence of a high proportion of fixed costs has on the desirability of using ABC methods?
Select one acquisition the company has undertaken during recent history and explain details of the deal. About the merger and acquisition activity of the Coca Cola
Prepare Photo Artistry Company's master budget for 2014 by completing the schedules Prepare a memo for Photo Artistry Company identifying issues that management should consider in order to improve the profitability of the company; provide some r..
Collect and examine two newspaper or magazine articles relation to management accounting issues. The analysis must include:
Compare and contrast a static budget and the flexible budget in terms of both characteristics, timing and uses.
Prepare the journal entry to transfer the cost of job #JK150 out of the work-in-process account at the end of November, What was the under-or over recovered overhead for the year?
Stanley Works is one of the companies you looked at in the job-order costing vs. process costing. Which type of costing do you think that company uses, process costing or job-order costing?
Applying Activity Based Costing
Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information.
Pacheco, Inc., manufactures two products, overs and unders, in single process. The joint costs of this process were $50,000, and 14,000 units of overs and 36,000 units of unders were produced.
Evaluate the capital loss
Petty Petroleum, Inc. uses various chemicals to manufacture its products. Variance data for last month for three primary chemicals used in production are as follows (F indicates a favorable variance; U indicates an unfavorable variance):
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